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Article
Publication date: 14 June 2021

Pricivel Carrera, Sükran Katik and Fredo Schotanus

Little is known about actual price savings generated by cooperative purchasing and nonmonetary advantages, disadvantages and impediments for the cooperative purchasing of…

Abstract

Purpose

Little is known about actual price savings generated by cooperative purchasing and nonmonetary advantages, disadvantages and impediments for the cooperative purchasing of complex or high-risk purchases. This paper aims to explore these topics by studying joint purchasing of pacemakers in The Netherlands.

Design/methodology/approach

To evaluate the magnitude of price savings, data on individual and collective prices for 18 hospitals was analyzed. In addition, 16 interviews were carried out with representatives of hospitals that participated and did not participate in the joint purchase.

Findings

Based on quantitative and qualitative data, the authors found large differences in price savings which can be attributed to scale, but mostly to knowledge of the group and renewing a contract in a technology-driven and developing market. Limited product choice – because of an organization joining a cooperative – constrained the attractiveness of cooperative purchasing, as end users may have specific product preferences. The consideration of preferences of end users is important toward successful joint purchasing of complex items.

Social implications

The authors argue that price savings because of scale are about 7% for smaller organizations and 4% for larger organizations. For smaller organizations with low specific knowledge and capacity for buying complex products, economies of process and knowledge are more important reasons for joining a purchasing group than scale. For large organizations with high specific knowledge and capacity, scale is the most important reason.

Originality/value

This study combined qualitative and quantitative perspectives, using actual spend data, to investigate cooperative purchasing of high-risk or complex purchases. On the one hand, more insight into the magnitude and reasons for price savings is provided than in earlier literature. On the other hand, more insight is given in qualitative reasons for joining a group and challenges for cooperative purchasing of complex items.

Details

Journal of Public Procurement, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1535-0118

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Article
Publication date: 1 April 2002

Kofi A. Amoateng

Notes with concern the current negative rate of personal saving in the USA, reviews previous research on factors affecting savings and explores the interrelationships…

Abstract

Notes with concern the current negative rate of personal saving in the USA, reviews previous research on factors affecting savings and explores the interrelationships between personal savings and the returns on stock and family homes. Develops a mathematical model and applies it to 1980‐2000 data using causality tests, cointegration and error‐correction models. Finds a significant, negative causal relationship from stock returns to savings and a possible positive causal relationship from returns on homes, although the latter was not supported by tri‐variate analysis. Concludes that changes in a household’s stock returns are adjusted through changes in savings.

Details

Managerial Finance, vol. 28 no. 4
Type: Research Article
ISSN: 0307-4358

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Article
Publication date: 1 April 2003

Kofi Q. Dadzie, Evelyn Winston and Kofi Afriyie

This study examines the effects of normative social beliefs, customer satisfaction with service quality and demographic variables on the long‐term savings behavior of…

Abstract

This study examines the effects of normative social beliefs, customer satisfaction with service quality and demographic variables on the long‐term savings behavior of rural households some 15 years after the 1981 large‐scale promotion of the rural bank program in Ghana. The results show that considerations of these influences beyond income alone provide stronger predictive power, over and above that of income. In addition, it appears that the negative effects of social beliefs on savings behavior were ameliorated significantly as a result of the promotional program. Similarly, customer satisfaction with the level of service quality was also positively correlated with the level of savings. However, the effects of the marketing approach used in Ghana differed significantly across state owned commercial banks, foreign multinational banks, and rural banks. The implications for enhancing the role of promotional marketing in changing savings attitudes in rural savings mobilization programs in Ghana and elsewhere in Africa are discussed.

Details

Management Decision, vol. 41 no. 3
Type: Research Article
ISSN: 0025-1747

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Article
Publication date: 1 March 1982

Barbara R. Lewis

Investigates school‐leavers and students, but more importantly, primary groups of schoolchildren are being targeted, because of their growing power as consumers – even…

Abstract

Investigates school‐leavers and students, but more importantly, primary groups of schoolchildren are being targeted, because of their growing power as consumers – even affecting others in purchasing products – such as own family members. Chronicles that the majority of children seem to save extensively at school or the Post Office, building society or bank, etc., and examines this in detail – particularly school savings schemes. Looks at different school systems, numbers of children involved and schools without a scheme. Discusses further pros and cons of saving schemes and also the implications of these for bank marketing. Concludes that the present project has been essentially exploratory, but further research might well be required.

Details

European Journal of Marketing, vol. 16 no. 3
Type: Research Article
ISSN: 0309-0566

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Article
Publication date: 29 April 2021

Nkosinathi Sithole, Gillian Sullivan Mort and Clare D'Souza

This paper aims to explore the effects of the customer-to-customer co-creation experiences of savings/credit groups in the African context and how savings/credit groups…

Abstract

Purpose

This paper aims to explore the effects of the customer-to-customer co-creation experiences of savings/credit groups in the African context and how savings/credit groups influence financial capability and enhance financial well-being.

Design/methodology/approach

Using purposive sampling, a study of a total of 18 focus groups was conducted in sub-Saharan Africa. Nine urban-based savings/credit groups were drawn from across South Africa and additional nine, rural-based savings/credit groups were studied in the Monduli district of Tanzania.

Findings

Findings demonstrate that the African philosophy of Ubuntu, which promotes customer-to-customer interaction, is the cornerstone of the customer-to-customer co-creation experience. Ubuntu philosophical principles were found to influence the dialogue, access, risk and transparency model of co-creation and customer-dominant logic. The results show further that customer-to-customer co-creation experience positively influences the cognitive, financial, personal and social experiences of members. Specifically, it was found that cognitive and financial experiences positively influence financial satisfaction, financial self-esteem, financial self-efficacy and financial capability, all of which enhance financial well-being. In addition, personal and social experiences positively influence equality, self-confidence, entrepreneurial skills and motivation that in turn enhance social well-being.

Research limitations/implications

This study has implications for many different stakeholders concerned with the financial inclusion of low-income consumers, particularly in the southern part of Africa.

Originality/value

To the authors’ knowledge, this is the first study to explore the effects of customer-to-customer co-creation experiences in traditional financial services settings in order to understand how these indigenous financial services influence the financial capability and financial well-being of co-creation members.

Details

International Journal of Bank Marketing, vol. 39 no. 3
Type: Research Article
ISSN: 0265-2323

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Article
Publication date: 19 March 2021

Jyoti Maheshwari, Pramod Paliwal and Amit Garg

Energy-efficient retrofitting of existing buildings is an inexpensive way of reducing energy consumption and mitigating climate change impacts. The purpose of this study…

Abstract

Purpose

Energy-efficient retrofitting of existing buildings is an inexpensive way of reducing energy consumption and mitigating climate change impacts. The purpose of this study is to examine electricity savings and carbon dioxide (CO2) emission reduction potentials of energy-efficient retrofit measures for surveyed two large shopping malls in India.

Design/methodology/approach

A techno-economic model was developed to estimate the electricity savings achieved due to energy-efficient retrofit measures in shopping malls that were surveyed in 2017. Alternative scenarios were constructed based on capital cost and cost of conserved energy (CCE) value for retrofit measures: cheapest replacement, best available technology and best value for money. The life-cycle electricity and CO2 emission savings and payback period for end-use retrofit measures were evaluated.

Findings

The estimated average electricity savings were around 39–56% for various retrofit measures across all three scenarios while the average CO2 emission reductions were around 50–125 kt-CO2. Retrofits to light-emitting diode lights and air conditioners with inverter technology offered more life-cycle electricity savings. Paybacks for most lighting end-use measures were estimated to be within 1.5 years while for most space conditioning end-use measures were between 1 and 4 years.

Originality/value

The primary survey-based comprehensive research makes an exclusive contribution by estimating life-cycle electricity savings and CO2 emission reductions for energy-efficient retrofit measures of lighting and space cooling end-use appliances for existing shopping malls. The present research methodology can also be deployed in other types of commercial buildings and in residential buildings to estimate electricity savings from energy-efficient retrofit measures.

Details

International Journal of Energy Sector Management, vol. 15 no. 3
Type: Research Article
ISSN: 1750-6220

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Book part
Publication date: 19 November 2012

Aude d'Andria

The market for solidarity employee savings remains under most people's radar in France, but targeting a new audience of employee savers it has progressed steadily in…

Abstract

The market for solidarity employee savings remains under most people's radar in France, but targeting a new audience of employee savers it has progressed steadily in recent years. The solidarity employee savings works on the same mechanisms of employee savings ‘classic’, while allowing employees, through a part of their investments, to help solidarity activities. Since 1 January 2010, it is mandatory that French employees be offered a solidarity savings fund in which they can invest assorted company savings plans (French acronym ‘PEE’ for plans épargne entreprise) or group retirement savings plans (French acronym ‘PERCO’ for plan épargne retraite collective). In this way, French legislators have created a wealth of around 12.3 million employees in solidarity employee savings, hence the value of understanding this emerging phenomenon and ascertaining its compatibility with employee savings.

Details

Recent Developments in Alternative Finance: Empirical Assessments and Economic Implications
Type: Book
ISBN: 978-1-78190-399-5

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Book part
Publication date: 22 August 2018

Howard Bodenhorn

Saving is essential to the health of economies and households, yet relatively little scholarship investigates saving behaviors among the urban working class in the…

Abstract

Saving is essential to the health of economies and households, yet relatively little scholarship investigates saving behaviors among the urban working class in the nineteenth century. This chapter uses five surveys of industrial workers in 1880s New Jersey, an analysis of which reveals sophisticated saving behaviors consistent with life-cycle and precautionary theories. The mean saving rate was between 8% and 12% of annual income. Younger households saved less than older households. Householders with longer expected careers, on average, saved less. Life insurance and fraternal societies were the most popular saving vehicles, but workers also used savings banks and building and loan associations, alone and in combination.

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Article
Publication date: 11 March 2021

Rajib Chakraborty and Rebecca Abraham

The purpose of this paper is to measure the impact of financial inclusion on economic development.

Abstract

Purpose

The purpose of this paper is to measure the impact of financial inclusion on economic development.

Design/methodology/approach

Study 1 used World Bank Data to develop financial inclusion percentages of ownership of checking accounts, savings accounts, debit cards and loans for 179 countries among the poorest 40% of the population, from 2011–2017. Regressions established the financial inclusion, gross savings and GDP per capita growth linkage. Study 2 created and validated scales to measure social empowerment, economic empowerment and economic development, among inhabitants of Bangladesh villages. Structural equation modeling measured the mediation by social empowerment and economic empowerment of the financial inclusion and economic development linkage.

Findings

Total financial inclusion was significantly explained by gross savings, which was significantly explained by GDP per capita growth. Ownership of a checking account significantly increased gross savings, while ownership of a savings account significantly increased GDP per capita growth. Ownership of a checking account differentiated countries with the highest 5% of gross savings, while ownership of a debit card significantly differentiated countries with the GDP per capita growth. Social empowerment and economic empowerment significantly mediated the financial inclusion and economic development relationship.

Originality/value

The study is unique in examining financial inclusion from a multi country, macroeconomic perspective combined with measurement of its theoretical underpinnings through a primary data-based sample extracted from respondents in Bangladesh, a lower middle-income country in Southeast Asia.

Details

International Journal of Social Economics, vol. 48 no. 6
Type: Research Article
ISSN: 0306-8293

Keywords

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Book part
Publication date: 1 January 2005

Kıvılcım Metin Özcan and Yusuf Ziya Özcan

This chapter investigates the relationship between private savings and a broad range of macroeconomic aggregates in the Middle East and North Africa (MENA) over the period…

Abstract

This chapter investigates the relationship between private savings and a broad range of macroeconomic aggregates in the Middle East and North Africa (MENA) over the period 1981–1994. Private savings are explained by the growth rate of income and strong inertia. Public savings crowd out private savings only partially. A financial depth measure suggests that countries with deeper financial systems will tend to have higher private savings. Private credit and real interest rates capture the severity of borrowing constraints and the degree of financial repression. Inflation captures the macroeconomic volatility and has a positive impact on savings.

Details

Money and Finance in the Middle East: Missed Oportunities or Future Prospects?
Type: Book
ISBN: 978-1-84950-347-1

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